American Assets Inc. Invests $386,000 in Perrigo Company plc (NYSE:PRGO)

American Assets Inc. purchased a new position in shares of Perrigo Company plc (NYSE:PRGO) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 15,000 shares of the company’s stock, valued at approximately $386,000. Perrigo accounts for approximately 0.1% of American Assets Inc.’s holdings, making the stock its 22nd biggest position.

Several other institutional investors also recently modified their holdings of PRGO. PNC Financial Services Group Inc. boosted its stake in Perrigo by 12.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 15,126 shares of the company’s stock worth $389,000 after acquiring an additional 1,699 shares during the last quarter. Edgestream Partners L.P. boosted its stake in Perrigo by 95.4% during the 4th quarter. Edgestream Partners L.P. now owns 155,164 shares of the company’s stock worth $3,989,000 after acquiring an additional 75,766 shares during the last quarter. Raymond James Financial Inc. bought a new position in Perrigo during the 4th quarter worth approximately $3,177,000. M&T Bank Corp bought a new position in Perrigo during the 4th quarter worth approximately $240,000. Finally, Bahl & Gaynor Inc. boosted its stake in Perrigo by 44.9% during the 4th quarter. Bahl & Gaynor Inc. now owns 1,525,197 shares of the company’s stock worth $39,213,000 after acquiring an additional 472,958 shares during the last quarter. Institutional investors and hedge funds own 95.91% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on PRGO shares. StockNews.com lowered shares of Perrigo from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Argus lowered shares of Perrigo from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Finally, Piper Sandler lowered shares of Perrigo from an “overweight” rating to a “neutral” rating and cut their price target for the company from $34.00 to $27.00 in a research note on Monday, January 6th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $33.00.

Insider Transactions at Perrigo

In related news, Director Jeffrey B. Kindler sold 17,598 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $28.27, for a total transaction of $497,495.46. Following the transaction, the director now directly owns 5,409 shares in the company, valued at approximately $152,912.43. The trade was a 76.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.40% of the stock is currently owned by insiders.

Perrigo Stock Performance

Shares of PRGO opened at $27.81 on Friday. The firm’s 50 day moving average price is $25.25 and its two-hundred day moving average price is $26.24. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.77 and a current ratio of 2.56. The firm has a market cap of $3.79 billion, a P/E ratio of -23.77 and a beta of 0.48. Perrigo Company plc has a twelve month low of $23.14 and a twelve month high of $33.46.

Perrigo (NYSE:PRGO) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.01. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.20 billion. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. On average, analysts forecast that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Perrigo’s previous quarterly dividend of $0.28. Perrigo’s payout ratio is currently -92.80%.

About Perrigo

Perrigo Company plc provides over-the-counter health and wellness solutions to enhance individual well-being in the United States, Europe, and internationally. It operates through Consumer Self-Care Americas and Consumer Self-Care International segments. The company develops, manufactures, markets, and distributes self-care consumer products, such as upper respiratory products, including cough suppressants, expectorants, and sinus and allergy relief; nutrition products consisting of infant formulas and nutritional beverages; digestive health products, including antacids, anti-diarrheal, and anti-heartburn; pain and sleep-aids products comprising pain relievers and fever reducers; and oral care products, which include toothbrushes, toothbrush replacement heads, floss, flossers, whitening products, and toothbrush covers.